What was the total deferred income tax provision for Best Western in 2022 (in thousands)?
Best_Western Franchise · 2025 FDDAnswer from 2025 FDD Document
and other current assets consisted of the following:
| (in thousands) | 2023 | 2022 |
|---|---|---|
| Prepaid expenses and other current assets | $ 17,060 | $ 16,301 |
| Current contract assets | 957 | 964 |
| Total | $ 18,017 | $ 17,265 |
(5) Income Taxes
The income tax provision for the years ended N
Source: Item 23 — Receipts (FDD pages 108–413)
What This Means (2025 FDD)
According to Best Western's 2025 Franchise Disclosure Document, the total deferred income tax provision for the year 2022 was $1,179,000. This figure is broken down into federal, foreign, and state components.
Specifically, the federal portion of the deferred income tax provision was $1,019,000, the foreign portion was $28,000, and the state portion was $132,000. These individual components sum up to the total deferred income tax provision of $1,179,000 for Best Western in 2022.
It's important to note that this deferred income tax provision is distinct from the current income tax provision, which reflects taxes payable within the current year. Deferred taxes arise from temporary differences between the accounting and tax treatment of certain items, such as depreciation or revenue recognition. Understanding these figures can help potential franchisees assess Best Western's financial health and tax strategies.